Uncertainty, risk aversion and optimal licensing mechanisms
Abstract
This research analyzes optimal licensing mechanisms in an environment characterized by uncertainty and risk aversion. We develop a licensing model with an upstream licensor and downstream licensees where the downstream players are characterized by differential attitudes towards risk. We find that the licensor chooses to license a drastic innovation to both parties if demand uncertainty is high and the potential licensees are not too dissimilar in their attitudes towards risk.
Degree
Ph.D.
Advisors
Kovenock, Purdue University.
Subject Area
Economic theory
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